Sterling Capital Management LLC Sells 2,463 Shares of EastGroup Properties, Inc. $EGP

Sterling Capital Management LLC reduced its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 11.9% in the first quarter, HoldingsChannel.com reports. The fund owned 18,317 shares of the real estate investment trust’s stock after selling 2,463 shares during the quarter. Sterling Capital Management LLC’s holdings in EastGroup Properties were worth $3,390,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares during the period. Goldman Sachs Group Inc. lifted its stake in EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after buying an additional 41,538 shares during the period. Jane Street Group LLC boosted its holdings in shares of EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares in the last quarter. Focus Partners Wealth grew its position in shares of EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 68 shares during the period. 92.14% of the stock is owned by institutional investors.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Up 1.1%

NYSE EGP opened at $206.99 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $207.72. The business has a 50 day moving average price of $202.02 and a 200-day moving average price of $191.75. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 3.11 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts expect that EastGroup Properties, Inc. will post 9.58 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

Analyst Ratings Changes

Several analysts have recently weighed in on EGP shares. Robert W. Baird lifted their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Raymond James Financial assumed coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target for the company. Morgan Stanley lifted their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.12.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.